Snow Capital Correlations

Mutual Funds . USA . 
Fund . Snow Capital Small
SNWIX Fund  USD 64.15  0.14  0.22%   
The current 90-days correlation between Snow Capital Small and Snow Capital Opportunity is 0.87 (i.e., Very poor diversification). The correlation of Snow Capital is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Snow Capital Correlation With Market

Poor diversification

The correlation between Snow Capital Small and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Snow Capital Small and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Snow Capital Small. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with Snow Mutual Fund

  0.96SNOAX Snow Capital OpportunityPairCorr
  0.96SNOCX Snow Capital OpportunityPairCorr
  0.96SNOIX Snow Capital OpportunityPairCorr
  1.0SNWAX Snow Capital SmallPairCorr
  1.0SNWCX Snow Capital SmallPairCorr
  0.99VSIIX Vanguard Small CapPairCorr
  0.72VISVX Vanguard Small CapPairCorr
  1.0DFSVX Us Small CapPairCorr
  0.99DFFVX Us Targeted ValuePairCorr
  0.98UBVCX Undiscovered ManagersPairCorr
  0.99UBVAX Undiscovered ManagersPairCorr
  0.99UBVSX Undiscovered ManagersPairCorr
  1.0AVFIX American Beacon SmallPairCorr
  0.72VTSAX Vanguard Total StockPairCorr
  0.72VFIAX Vanguard 500 IndexPairCorr
  0.72VTSMX Vanguard Total StockPairCorr
  0.72VSMPX Vanguard Total StockPairCorr
  0.72VSTSX Vanguard Total StockPairCorr
  0.72VITSX Vanguard Total StockPairCorr
  0.72VFINX Vanguard 500 IndexPairCorr
  0.72VFFSX Vanguard 500 IndexPairCorr
  0.72VGTSX Vanguard Total InterPairCorr
  0.72VTIAX Vanguard Total InterPairCorr
  0.69AUNTX Ab Municipal BondPairCorr
  0.98FKINX Franklin IncomePairCorr
  0.96TSFYX Touchstone Small CapPairCorr
  0.97JSIYX Jpmorgan SmartretirementPairCorr
  0.93TIOTX Tiaa Cref InternationalPairCorr
  0.62SEVPX Guggenheim Mid CapPairCorr
  0.97VYSAX Voya SmallPairCorr
  0.95CHI Calamos ConvertiblePairCorr
  0.99FSCTX Fidelity Advisor SmallPairCorr
  0.94VMCRX Voya Midcap OpportunitiesPairCorr
  0.73LHEAX Locorr Hedged CorePairCorr
  0.95TBDAX Prudential JennisonPairCorr
  0.97LMPIX Clearbridge AppreciationPairCorr
  0.86GRSRX Cohen Steers GlobalPairCorr
  0.97VFIFX Vanguard Target RetiPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Snow Mutual Fund performing well and Snow Capital Mutual Fund doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Snow Capital's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

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